Have You Created a Monster? Group Dental Practice Consultant Available for Taming
Are you the owner of a multiple location group dental practice and you are keeping track of everything in your head? Are you the only one who knows which bank account should be used for payroll? Are you the one dealing with the most recent computer bill that seemed unreasonable? And, are you also handling phone calls and text messages several times a day regarding other investments? It can be completely exhausting to be the only one responsible to keep every ball in the air.
On top of keeping track of everything in your head, you may not be working smoothly with your accounting firm and wish you had better management of your practice. If you do not have financial statements from the month prior in your hand by the middle of the following month, you may want to have a heart-to-heart with your accountant to find out what the holdup is. Beyond looking at your income statement and balance sheet every month, you also need to know a “Top 10” performance metrics for each dental office as well. If you are not reviewing these two reports each month, then you do not know now your practice is performing. And, if you don’t know how your practice is performing, then you cannot make good decisions.
Have you lost a key staff person?
Often, a dental practice owner in this situation will try to take care of everything and everyone, until staff turnover becomes the straw that breaks the camel’s back. Perhaps your long term office manager is leaving. Or maybe a couple key people in one of your offices quit at the same time and you decide that you just can’t take care of everything alone any longer. This may be the time when you finally admit to yourself, “We have created a monster!”
Are you ready to get organized? And become profitable?
If you are in this situation and you are ready to organize your practice and get control of your finances, call me. I have helped dentist owners to solve these problems. I am gifted at taking messy, disorganized offices and establishing systems and processes to make things flow smoothly. I am experienced with working with accountants, organizing financial statements (so you can see the profitability of each of your businesses, not just your dental practice) and training your staff. You will quickly see the benefits of my work through the communication and management systems I put into place for your team.
One of the first things I always start with is your team. You want the right people in the right places, doing the right jobs. Identifying leaders that can take on additional responsibility and coaching them on management skills is a big first step. Next, I offer an online dental staff training program that not only allows you to hire new staff with little or no dental experience and quickly develop their skills, but it also provides the Dentrix training your senior staff wish they already had. This online training program boosts the skills of everyone on your team and provides the support they need to meet your goals and achieve your vision.
Coordinating with your accountant and bookkeeper to structure the financial side of the business is a key step in allowing a dentist owner to develop confidence so that every number doesn’t have to be tracked in your head. With my 18 years Dentrix experience, I know how to set up the dental reports and bridge the gap between the dental software and the accounting software. I have set up systems to take care of:
- Daily deposit – setting a standard template for each office
- Refunds – tracking the credit balances due to avoid an expensive payout in an unclaimed funds audit
- Collections – an organized, easy to follow process to collect money quickly and effectively
- Insurance – establishing a follow up system to get paid
- Provider Credits – making sure each provider is paid fairly
You may be wondering how I would work with your group? Normally, I start with an assessment where I come in and spend a few days to meet with your team and run a series of reports in each location. You will receive a written summary of my specific findings and recommendations along with my “treatment plan” for your practice. Then we create a plan together for implementation and long term support. In practice, this may look like a monthly visit with remote support such as calling in to join management meetings and emails to handle questions as needed. This ensures that each and every system is set up and running smoothly and your leadership team is managing effectively.
To read a case study for a group practice I have worked with:
Hiring a group practice dental consultant is just one way to run a successful dental practice. If you’re interested in new ideas on running a dental practice, please subscribe to my weekly blog. One of the biggest challenges to managing a dental practice is managing dental insurance. With dental insurance handled, then dental marketing for new patients becomes a primary focus. In today’s day of online reviews, handling patient complaints well is essential. As your practice grows, hiring dental staff becomes more important. With 17+ years of dental practice management experience, I’m open to your questions to help you run a successful dental office.